Financial Performance - The Group's revenue for the year ended December 31, 2020, was approximately HK$3,029,046,000, representing a decrease of 17.9% over the previous year due to the adverse impact of COVID-19 on the global economy and market conditions [14]. - The operating loss for the year decreased to approximately HK$502,151,000, a notable decrease of 31% over the previous year, with the second half of 2020 showing an operating loss of approximately HK$64,069,000 compared to HK$438,082,000 in the first half [18]. - Fair value loss on internet media investment for the year was approximately HK$1,074,851,000, compared to a gain of HK$1,567,715,000 for the previous year [19]. - The loss attributable to owners of the Company was approximately HK$1,037,043,000, which included a share of fair value loss of approximately HK$585,686,000, compared to a profit of HK$122,665,000 for the previous year [21]. - The final disposal of the Group's internet media investment was completed in October 2020, with a total consideration of US$350,000,000 against an aggregate investment cost of approximately US$97,000,000, resulting in significant cash flow benefits [21]. - Operating costs decreased by 20.0% to approximately HK$3,531,197,000 for the year ended December 31, 2020, down from HK$4,416,143,000 in 2019 [24]. - The net exchange gain for the year ended December 31, 2020, was approximately HK$44,355,000, primarily due to the appreciation of the Renminbi [24]. - The Group's basic loss per share for the year was HK$20.77, compared to earnings of HK$2.46 per share in the previous year [30]. Strategic Focus and Innovations - The Group's strategic focus remains on building an internationally leading high-tech omni-media group driven by content production and cross-sector integration [33]. - The Group aims to maintain its international influence and credibility while continuously pushing forward strategic innovations [33]. - The Group's strategic focus includes customized media services, content consumption, e-commerce, and cultural travel to enhance monetization [44]. - Phoenix Digital Technology is committed to integrating "5G + Media Industry" and expanding into 5G+4K/8K+VR content production [49]. - The Group is actively promoting business transformation through platforms like Road to Peak and Phoenix Health, focusing on innovative media services and investment [42]. Media Influence and Recognition - In 2020, Phoenix was rated as one of The World's Top 500 Largest Media Companies and ranked among the top 4 most influential television media brands in Asia [40]. - Phoenix TV ranked among the top four of China's 500 Most Valuable Brands 2020 for the 17th consecutive year, alongside CCTV, People's Daily, and Hunan Broadcasting and Film Group Co., Ltd. [88]. - Phoenix TV entered the list of Asia's 500 Most Influential Brands 2020 for the 15th consecutive year, again ranking among the top four television brands in Asia [89]. - Phoenix TV was ranked 269th among the world's top 500 media companies in 2020, marking its 8th consecutive year on the list [97]. Content and Programming Achievements - The documentary C'est La Vie: COVID-19 Epidemic Special won the Asian Academy Creative Awards 2020, showcasing Phoenix's brand influence [40]. - The program "Hovering over Macau" won the bronze prize at the New York Festivals International TV & Films Award Gala 2020 in the Camerawork category [82]. - Phoenix TV's documentary "Letters from Wuhan" received the Antipandemic Special Contribution Award at the 5th Academy Awards of China Online Video [84]. - The program "Face Mask Global Shortage: Supply and Demand Analysis" received the Outstanding Work Award at the documentary event on China's battle against the pandemic [96]. - Phoenix TV's documentary "The Body Transporter" was nominated as a finalist for the Documentary: Human Concerns category at the New York Festivals [82]. Global Distribution and Reach - Phoenix's outdoor LED media resources cover over 300 cities in China with over 900 screens, achieving global procurement and distribution across 19 countries and regions [47]. - Phoenix TV is distributed across 47 countries in Africa, including South Africa, through MultiChoice and StarSat satellite platforms [101]. - In North America, Phoenix TV channels are available in over 55 hotels with a total of 49,700 rooms [101]. - The company has established a presence in 36 countries in North and South America through various platforms including AT&T and Amazon [101]. - Phoenix TV channels are also transmitted over digital terrestrial TV networks in Africa, covering 16 countries [101]. COVID-19 Reporting and Impact - Phoenix TV dispatched a strong team of experienced reporters to Wuhan during the COVID-19 pandemic, including Jiang Xiaofeng and Luo Yuming, to report on the latest situation [62]. - The company emphasized its commitment to reporting on the pandemic and cultural resilience, showcasing its role in the media landscape during challenging times [63]. - Phoenix TV's global correspondents provided continuous reports on the pandemic, covering various aspects such as government measures, public attitudes, and the impact on the global economy [157]. - The organization highlighted China's successful pandemic control measures as a model for other countries [161]. - Following the assassination of Iranian commander Soleimani, tensions in the Middle East escalated, with Phoenix TV reporting on the situation and conducting interviews with key figures involved [165]. Major Events Coverage - Phoenix TV prepared extensively for the U.S. election coverage, starting as early as August, with a nationwide reporting network established for comprehensive coverage [75]. - Eight reporters from Phoenix TV in the U.S. provided live coverage during the general election on November 8, connecting to the Hong Kong headquarters for real-time updates [76]. - The U.S. election coverage involved coordinated efforts from 11 reporter stations in various countries, offering in-depth observations on the election's global impact [75]. - Phoenix TV's Commentator Group provided detailed analysis of the U.S. election from a global perspective, diagnosing relevant events and their implications [75].
凤凰卫视(02008) - 2020 - 年度财报